Probably the most well-known Bitcoiner in the world, Michael Saylor, sees a Bitcoin price of 1 million dollars coming in the next few years. For him, Bitcoin is the best investment in human history and could soon take over the world. What are his reasons and how realistic is his assessment?
Michael Saylor is the CEO of Microstrategy, which grew into a multinational company with more than 2,500 employees through the manufacture of software. Saylor has made the company’s strategy 100% investing in Bitcoin for the last 3 years.
Microstrategy takes out large loans and thus regularly invests in Bitcoin. Later, the company repays the loans when the BTC price has risen. This means that Microstrategy is basically using a leveraged Bitcoin strategy.
Furthermore, Saylor is one of the best-known, if not the best-known, advocate for cryptocurrency in the world. His talks about Bitcoin are followed euphorically by followers. His followers see him as one of the smartest investors out there.
Michael Saylor Bitcoin Prediction: BTC Price at $1 Million?
According to Michael Saylor, the Bitcoin price could rise to a value of 1 million US dollars in a few years. Because in the coming years, the adaptation of bitcoin could progress massively and the demand for bitcoin should increase massively. Then the price could explode.
Why is Saylor actually so convinced of Bitcoin? What are the arguments for his massively bullish Bitcoin price forecast?
Bitcoin is designed to absorb all other assets in value
According to Michael Saylor, Bitcoin is the best investment of all in the future and all financial values that are currently stored in other assets should be transferred to Bitcoin in the years and decades to come. The economic energy that lies in real estate, gold and stocks could soon be transferred to Bitcoin, which will cause the price to rise massively.
FOMO will be massive
According to Saylor, more and more people will understand Bitcoin in the future. This process should take longer. But beyond a certain point, bitcoin will become less and less available. 19.3 million bitcoins have already been mined. Many Bitcoin are hardly moved by the owners anymore. The halvings result in a supply shock. The declining supply could cause FOMO on Bitcoin to intensify. This should explode the Bitcoin price.
Bitcoin is Ultimate Scarcity
According to Saylor, the scarcity of Bitcoin is probably the most important characteristic of the cryptocurrency. Due to this scarcity, all values in the universe could only lose value compared to Bitcoin. This would mean that the Bitcoin price would rise continuously over the long term.
How realistic is this Bitcoin Price? Is Saylor right?
Michael Saylor’s remarks are always interesting and his arguments can lead one to conclude that the value of Bitcoin will increase massively in the coming years and decades.
Ultimately, however, the future cannot be predicted and there is a certain risk with almost everything in life. Nevertheless, Saylor’s statements encourage investors that their investment can pay off, especially in the long term.